Markets have sprung back to life as tensions between the United States and North Korea have simmered down following a claim by CIA director Mike Pompeo that there is no ‘imminent’ threat of nuclear war.
As of right now the Dow is up 145, S&P 500 is up 24.90, and the Nasdaq has tacked on an impressive 82 points – recovering about half of last week’s carnage.
Crude, meanwhile is trading near the lows of the day, down 2.56% to $47.58.
Market Heatmap
Looking at a market heatmap from Finviz, it’s green pretty much across the board with the exception of basic materials, Disney, and Home Depot.
So who bought the dip?
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No nuclear war, I’m stunned. We have the potential of an extremely uglier war for those who do not wish to have troops on the ground; all of us. There is no possibility to blow up the palace and a few airfields and that’s it we’re done. So the bluffing can continue for a while – both sides. Obviously the stationing is for air attacks only but that will work for a wee time. The fucks will be far underground in short order.
The -fakeness- of the US equity market reveals itself on these news headline spike events. The priming overnight. They prime the index futures and with very little variance, achieve a close exactly where it left off. It doesn’t scare bears and shorts, because a lot of us truthtellers figured out the engineering, programming, and operations controlling index movements, 4+ years ago. One small example, the obvious upkeep of 50 day moving avgs, from which many “helper algos” kick in from. Guess what? There will another recession. It will happen, along with the multiple and numerous historical tables and metrics that have blown out. The added layers on the indexes, will, come off
You just refuse to make any money in the market unless conditions are just perfect, the sun is shining, and there is no smidgeon (extra Obama) of manipulation.